How long until I can get Amex?

[Generalsource1]

It's been a long time dream to get a Amex card but with my current situation it's probably impossible at the moment , all 3 credit bureaus are reporting from 540-560 is is my situation 

A repo that was from a credit union and they still have my account, I tried to do a PTD but they wouldn’t do it since they have their own in-house collections, so I figure it’s probably just better to pay them and be in good standing with them , I pulled a annual credit report and found  1st cash central I think it's a payday loan $984,

2nd grain technology $1,036

3rd merrick bank balance left $157 but it's not in collections I am currently paying as agreed ,

4th Petal card and the balance $1,309 and the account is 60 days past due but Petal recently emailed me and said "We can work with you to pay off your account for only 40% of what you currently owe.Your total balance is $1,309.73.

Your pay off offer is $523.89.

When you complete the pay off offer, we will waive your remaining balance, close your account, and report it as “closed at customer request” to the credit bureaus."  Is there a way to pay them and get the 60 days late removed too?
5th is "possible" finance unsecured account with $900 balance that's in collections

6th knight ADJ bureau with balance of $948 that's in collections from RC Wiley 7th is from Midland credit management its collections and the balance is $832 , these are all of the accounts.  Any info or input is greatly appreciated!

[Jeffster1]

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@Generalsource1 wrote:

It's been a long time dream to get a Amex card but with my current situation it's probably impossible at the moment , all 3 credit bureaus are reporting from 540-560 is is my situation 

A repo that was from a credit union and they still have my account, I tried to do a PTD but they wouldn’t do it since they have their own in-house collections, so I figure it’s probably just better to pay them and be in good standing with them , I pulled a annual credit report and found  1st cash central I think it's a payday loan $984,

2nd grain technology $1,036

3rd merrick bank balance left $157 but it's not in collections I am currently paying as agreed ,

4th Petal card and the balance $1,309 and the account is 60 days past due but Petal recently emailed me and said "We can work with you to pay off your account for only 40% of what you currently owe.Your total balance is $1,309.73.

Your pay off offer is $523.89.

When you complete the pay off offer, we will waive your remaining balance, close your account, and report it as “closed at customer request” to the credit bureaus."  Is there a way to pay them and get the 60 days late removed too?
5th is "possible" finance unsecured account with $900 balance that's in collections

6th knight ADJ bureau with balance of $948 that's in collections from RC Wiley 7th is from Midland credit management its collections and the balance is $832 , these are all of the accounts.  Any info or input is greatly appreciated!

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My brutal advice is that you need to focus and do some serious work on getting your financial house in order, and ONLY after that should you even think about getting another credit card, Amex or otherwise. Forget about Amex for now.

[TRC_WA]

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@Generalsource1 wrote:

It's been a long time dream to get a Amex card but with my current situation it's probably impossible at the moment , all 3 credit bureaus are reporting from 540-560 is is my situation 

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Not probably... it's definitely.

My advice is the same as in the previous post.

[GZG]

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@Generalsource1 wrote:

It's been a long time dream to get a Amex card

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Pay off/settle all of your debt. Do try to help that Petal account from going 90 days late.

If you can't do that this very second, change your question and ask, how can I make enough money to pay off my debt? And once it's paid off, continue.

Once all of your debt is paid off and you have $0 balances on every collection and derogatory tradeline on your report, get some positive tradelines reporting if you don't have any. 

Then try the prequal in 12 months and then every 3 months after that until you can squeak into Amex with a $1k BCP or something. 

Might take 1 year, 2 years, 4-5 years, no idea. But just keep trying. 

[Epiki71]

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@Jeffster1 wrote:

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@Generalsource1 wrote:

It's been a long time dream to get a Amex card but with my current situation it's probably impossible at the moment , all 3 credit bureaus are reporting from 540-560 is is my situation 

A repo that was from a credit union and they still have my account, I tried to do a PTD but they wouldn’t do it since they have their own in-house collections, so I figure it’s probably just better to pay them and be in good standing with them , I pulled a annual credit report and found  1st cash central I think it's a payday loan $984,

2nd grain technology $1,036

3rd merrick bank balance left $157 but it's not in collections I am currently paying as agreed ,

4th Petal card and the balance $1,309 and the account is 60 days past due but Petal recently emailed me and said "We can work with you to pay off your account for only 40% of what you currently owe.Your total balance is $1,309.73.

Your pay off offer is $523.89.

When you complete the pay off offer, we will waive your remaining balance, close your account, and report it as “closed at customer request” to the credit bureaus."  Is there a way to pay them and get the 60 days late removed too?
5th is "possible" finance unsecured account with $900 balance that's in collections

6th knight ADJ bureau with balance of $948 that's in collections from RC Wiley 7th is from Midland credit management its collections and the balance is $832 , these are all of the accounts.  Any info or input is greatly appreciated!

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My brutal advice is that you need to focus and do some serious work on getting your financial house in order, and ONLY after that should you even think about getting another credit card, Amex or otherwise. Forget about Amex for now.

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I second this Op.

[Generalsource1]

@Jeffster1 @Thanks for your input I will start doing that 

[Generalsource1]

@TRC_WA  lol yes I know Forsure at this point in time they'll probably put me on a block list if I applied with Amex in my current situation, but I'm just 23 years old so just trying to get as much advice as possible, and hopefully one day I can get in with Amex 

[markbeiser]

Unfortunately you are looking at a multi year timeline since most of your negatives appear to be recent.
An AmEx credit card is something you can start thinking about when your scores are close to 700, ideally over.
Charge cards can be had with slightly lower scores, but for either, you will need some age on your negatives, and at least a couple of years of demonstrated responsible use of credit.

[Generalsource1]

@GZG  thank you for your detailed advice , I do have still a U.S. bank CC that's in good standing and also merrick bank cc that's still good standing us bank and merrick each have less than 1k in Credit limit , also a capital one with $300 credit limit Lol😂 but 0 balance , so I will just probably stay with those and keep a low balance while I pay the rest off, I do have money in savings and I can pay all the debt owed ASAP, I got in contact with all creditors thru email yesterday and petal got back to me and they said they can actually delete the lates and report the account as " closed at customer request ", so I will  make a payment to them Monday then start paying the rest , thanks again for your input 

[Jeffster1]

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@Generalsource1 wrote:

@Jeffster1 @Thanks for your input I will start doing that 

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You can do it. So many of us on here have been through our own financial challenges/disasters. And, of that group, many of us have either gotten into Amex for the first time, or have gotten back in after we got back on our feet. It will just take patience, focus and determination. You can do it if you set your mind to it.